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THE 


Coin  Collector  s 

Journal 


EARLY  AMERICAN  MEDALS 
STORY  AND 

DESIGN  OF  MODERN  COINS 
THE  ROYAL  MINT  OF  SWEDEN 
CURRENCY  AND  BANKING  IN  FLORIDA 
SANTA  FE  DE  BOGOTA 
COINS  OF  THE  WORLD 


NOVEMBER  - DECEMBER  1947 


The 


NATIONAL 


COIN  ALBUM 


Visibility — Protection — Convenience 

Designed  bv  a collector,  for  collectors,  these  fine  coin  albums 
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rate workmanship. 

For  over  twenty  years 

THE  IDEAL  METHOD 
OF  HOI  SING  V COLLECTION 


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bear  the  name 

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and  the  original  patent  No.  1,719.962 


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THE  COIN  COLLECTOR’S  JOURNAL 

FOUNDED  BY  JOHN  W.  SCOTT  IN  1875 

Published  by  WAYTE  RAYMOND,  INC. 

654  Madison  Avenue,  New  York  21,  N.  Y. 

Copyright,  1947,  by  Waytc  Raymond,  Inc. 

WAYTE  RAYMOND,  Editor  GEORGE  W.  HUSKER,  Associate  Editor 

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Vol.  14,  No.  6 New  York,  November-December,  1947  Whole  No.  116 


EARLY  AMERICAN  MEDALS 

CAPTAIN  JACOB  JONES 
(Capture  of  the  Frolic) 


Bust  of  Captain  Jones,  in  uniform,  to 
right.  In  Latin:  “Valor  seeks  difficub 
ties”. 

Reverse  — In  Latin:  “He  quickly 
snatched  victory  from  a superior  enemy”. 
Naval  action  between  the  U.  S.  sloop'oL 
war  Wasp  (18  guns)  and  the  British 
sloop'of-war  Frolic  (22  guns).  The 
Wasp  has  lost  her  maintopmast,  and  is 
raking  the  Frolic  as  she  lays  on  her 
board.  The  Americans  are  in  possession 
of  the  enemy's  forecastle.  In  exergue  the 
abbreviated  Latin  reads:  Between  the 
American  vessel  Wasp  and  the  English 
vessel  Frolic,  October  18,  1812.”  Medal 
is  size  40,  designed  by  Furst. 


Jacob  Jones  was  born  near  Smyrna, 
Delaware  in  1770.  At  the  University  of 
Philadelphia  he  was  a medical  student 
until  1799  when  he  entered  the  navy  as 
a midshipman.  In  1804,  as  a lieutenant, 
he  was  taken  prisoner  in  the  frigate 
Philadelphia  when  she  was  captured  off 
Tripoli.  He  was  commissioned  master^ 
commandant  in  1810  and  for  his  gallant 
action  with  his  ship  Wasp  against  the 
British  Frolic,  was  awarded  the  gold 
medal  illustrated.  Later,  he  commanded 
the  Macedonian  and  squadrons  in  the 
Mediterranean  and  Pacific.  He  served  as 
a member  of  the  Naval  Board  and  was 
Governor  of  the  Naval  Asylum  in  Phib 
adelphia,  where  he  died  in  1850. 


CAPTAIN  STEPHEN  DECATUR 
(Capture  of  the  Macedonian) 


Bust  of  Captain  Decatur,  in  uniform, 
facing  right.  In  Latin:  “Stephen  De^ 
catur,  a naval  captain,  conqueror  in 
many  battles”.  Reverse — In  Latin:  “The 
enemy’s  standard  falls,  the  stars  arise”. 
Naval  action  between  the  44'gun  U.  S. 
frigate  United  States  and  the  49'gun 
British  frigate  Macedonian.  The  United 


States,  to  leeward,  is  firing  her  port 
broadside;  the  Macedonian  has  lost  her 
mizzenmast,  her  lore  and  maintopmasts, 
and  her  mainyard.  In  exergue,  abhrevb 
ated  in  Latin:  “Between  the  American 
vessel  UNITED  STATES  and  the  Eng 
lish  vessel  MACEDONIAN,  October 
25,  1812”.  Size  40.  Designed  by  Furst. 


131 


November'December,  1947 


Early  American  Medals 


INTER  WASP  NAY.  AMERJ 
ET  FROLIC  AAV,  ANC, 
DIE  XVI 1 1 OCT,  ^ 
MDCCCXU. 


INTERSTA.UA  I . N A' V.  A M E R I 

- ET  MACEDO.NAV.AAO.DIE 
XXV  OCTOBR1S 
A MDCCCXU 


V rw 

{ irMtY 

<£!  ^ 

S\  . y._  . K 

iSgL'i 

Ej*  I ^ 

132 


November-December,  1947 


Early  American  Medals 


Born  in  Sinnepuxent,  Maryland  in 
1779,  Stephen  Decatur  served  as  a mid' 
shipman  and  lieutenant  under  Coni' 
modores  Dale  and  Preble  in  the  Medi' 
terranean.  While  commanding  the  Im 
trepid  he  destroyed  the  Philadelphia, 
off  Tripoli  m 1804.  The  Philadelphia 
under  command  of  Captain  Bainbridge 
has  been  rendered  helpless  through  stnk' 
ing  an  uncharted  rock,  and  the  American 
crew  captured  and  the  vessel  salvaged 
in  Tripoli  Harbor.  Assigned  to  destroy 
this  vessel  which  the  enemy  was  prepar' 
ing  to  make  use  of,  Decatur  with  seventy 
men  in  the  small  ketch  Intrepid  sailed 
into  the  harbor  and  through  brave  and 
desperate  action  boarded  the  Philadeh 
phia,  defeated  the  turbaned  defenders 
and  burn  the  vessel.  For  this  gallant 
action  he  was  promoted  to  Captain.  He 
saw  much  action  commanding  guii'boats 
oh  Tripoli  and  for  his  action  against  the 
M acedonian  was  awarded  the  gold  medal 
shown.  In  January,  1815  he  left  New 
London  as  commodore  of  The  President, 


but  was  captured  by  the  British.  The 
same  year  he  sailed  again  for  the  Medi' 
terranean  in  command  of  a squadron,  and 
made  treaties  with  Algiers,  Tunis  and 
Tripoli.  On  his  return  home  he  became 
a member  of  the  naval  board. 

Decatur  was  killed  in  a duel  with 
James  Barron,  a naval  officer,  who,  for 
surrendering  his  vessel  Chesapeake  to 
the  British  ship  Leopard  in  1807,  had 
been  court'martialed  and  suspended  for 
rive  years  from  naval  service.  In  1818  a 
movement  was  started  to  reinstate  Barron 
in  naval  duties,  and  the  resistance  of 
Decatur  (and  other  officers)  to  this  move 
resulted  in  a bitter  exchange  of  letters 
between  Barron  and  Decatur.  The  result 
was  “an  affair  of  honor"  between  the 
two  on  the  famous  duelling'ground  near 
Bladensburg,  Maryland  in  March,  1800. 
Both  men  were  wounded,  Barron  severely 
but  Decatur  mortally,  and  he  died  the 
following  day.  Barron  lived,  and  later 
became  a senior  officer  in  the  navy. 


CAPTAIN  WILLIAM  BAINBRIDGE 
(Capture  of  the  Java) 


Bust  of  Captain  Bainbridge  in  uni' 
form,  right,  underneath,  a star.  In  Latin: 
“William  Bainbridge  praised  by  his 
country  and  by  the  vanquished  foe.” 

Reverse— In  Latin  “PUGNANDO”— 
(In  fighting).  The  naval  action  is  over. 
The  British  frigate  Java  (49  guns)  is 
completely  dismasted  while  the  U.  S. 
frigate  Constitutioyi  (44  guns)  shows 
only  small  damage  in  her  rigging.  Ex' 
ergue:  The  Latin  reads:  “Between  the 
American  vessel  Constitution  and  the 
English  vessel  Java,  December  29,  1812”. 
Medal  is  size  40,  designed  by  Furst. 

A native  of  Princeton,  New  Jersey, 
William  Bainbridge  at  the  age  of  sixteen 


(1790)  went  to  sea  in  command  of  a 
ship  in  the  merchant  service.  By  1800  he 
had  become  a captain  in  the  navy  in 
command  of  the  Philadelphia  which  was 
lost  in  action  at'  Tripoli.  Upon  his  re' 
turn  to  the  LInited  States  Captain  Bain' 
bridge  saw  no  naval  service  until  1812 
when  in  command  of  the  Constitution 
he  engaged  the  British  Java  in  battle  and 
won  the  thanks  of  Congress,  and  a gold 
medal,  for  his  gallant  action.  After  the 
close  of  the  war  he  twice  commanded 
in  the  Mediterranean  and  after  1821 
served  ashore  in  various  navy  yards  and 
on  the  Nav.d  Board.  He  died  in  PhiL 
adelphia  in  1833  and  is  buried  in  Christ 
church'yard. 


133 


November' December,  1947 


STORY  AND  DESIGN 
Or  MODERN  COINS 


BRAZIL 


BRAZIL 


Marshal  Floriano  Peixoto,  whose  por- 
trait  appears  on  the  2000  reis  piece  of 
1039,  was  one  of  the  prominent  figures 
of  the  revolution  which  changed  Brazil 
from  an  Empire  to  a Republic.  In  the 
latter  years  of  the  reign  of  Dom  Pedro 
II,  Marshal  Peixoto  held  a high  position 
in  the  army  and  was  invited  to  become 
a member  of  the  last'  Imperial  Cabinet 
as  Minister  of  War.  However,  Peixoto 
had  always  been  a liberal  with  strong 
republican  leanings  and  he  joined  the 
revolutionary  movement  of  General  De- 
odora.  As  first  Vice  President  of  the 
new  republic  he  was  instrumental  in 
shaping  its  policies  during  the  first  criti- 
cal months  and  when  Deodoro  resigned 
in  November  1891  under  bitter  criticism, 
Peixoto  took  over  the  chief  magistracy. 
His  initial  acts  as  President  provoked  a 
storm  of  opposition  and  incited  a re- 
volt  of  the  Navy.  However,  he  weathered 
the  storm  and  in  1894  reliquished  his 
olfice  to  the  regularly  elected  President. 
Although  a controversial  figure,  Peixoto 
rendered  great  service  to  Brazil  by  con- 
solidating a regime  which,  under  his 
predecessors  was  threatened  with  dis- 
solution and  disintegration.  Many  of 
his  acts  and  policies  as  chief  executive 
have  been  questioned  but  his  voluntary 
retirement  I mm  the  political  field  at 
the  height  of  his  personal  power  is 
proof  that  his  ultimate  goal  was  the 
establishment  ol  a strong  and  great 
nation. 


Although  our  South  American  neigh- 
bors appear  to  be  preoccupied  with 
politics,  literature  is  by  no  means  a 
neglected  art.  The  most  celebrated 
Brazilian  writer  of  the  19th  century 
was  Joaquim  Maria  Machado  de  Assis 
(1839-1908),  whose  centennial  was  ob- 
served by  the  issue  of  this  500  reis  coin 
in  1939.  No  writer  ol  South  America 
embraces  as  much  and  as  varied  territory 
as  this  great  Brazilian.  He  was  a true 
artist  of  the  novel,  a creator  of  charac- 
ters, gifted  with  a singular  deftness  of 
psychological  detail,  a refined  sense  of 
humor  and  a limpid  style.  Machado  de 
Assis  has  been  called  the  novelist  of  the 
reign  of  Dom  Pedro  II  although  after  the 
abdication  he  continued  to  create  works 
which  reflect  the  several  changes  that 
came  with  the  republic. 

In  addition  to  his  nine  great  novels 

CO 

he  published  several  volumes  of  poems, 
essays,  plays  and  short  stories.  The 
most  important  of  his  works  are  laid 
Garcia,  M emorias  postumas  de  Bras 
Cubas,  guineas  Barba  and  Don  Cds- 
murro,  some  parts  of  which  have  been 
translated  into  English.  In  the  past  the 
work  of  the  Brazilian  has  received  little 
attention  from  North  American  critics 
but  in  recent  years  he  has  been  redis- 
covered in  a sense  and  recognized  as  the 
founder  of  a truly  national  literary 
school. 


134 


November-Dccember,  1947 


STORY  AND  DESIGN 
OE  MODERN  COINS 


HUNGARY 


This  2 Pengo  piece  was  issued  on  the 
200th  anniversary  of  the  death  of 
Francis  (II)  Rakoczy,  one  of  the  greatest 
of  Magyar  heroes.  He  was  born  in  1676 
of  a noble  Hungarian  family  and  spent 
his  boyhood  with  his  mother  in  an  ultra 
patriotic  Magyar  environment.  At  the 
age  of  twelve  when  his  family  lost  its 
fortune  and  its  ancestral  seat  he  was 
sent  to  Vienna  to  be  brought  up  as  an 
Austrian  magnate.  His  birth,  rank, 
wealth  and  brilliant  qualities  made  him 
a natural  leader  of  the  Hungarian 
peoples  and  in  time  he  became  identified 
with  the  insurrectionary  movements  of 
the  period.  On  the  eve  of  the  War  of 
the  Spanish  Succession  he  sought  assist' 
ance  of  Louis  XIV  but  his  plot  was  be' 
trayed  to  the  Emperor  and  he  was  ini' 
prisoned.  Making  a dramatic  escape,  he 
took  to  the  field  against  the  Imperial 
armies  in  1703.  Want  of  arms,  money 
and  trained  officers  and  men  together 
wi  th  1 ack  of  effective  aid  from  his  foreign 
allies  made  any  sort  of  permanent  success 
impossible.  In  1708  his  army  was  routed 
at  Trenczen  and  a fresh  attempt  to  re' 
new  hostilities  in  1710  brought  on  aiv 
other  disaster.  In  1711  he  quitted  his 
native  country  after  declining  an  offer 
of  amnesty  made  by  the  Emperor.  For 
the  remainder  of  his  life  he  lived  in  exile 
and  died  in  April  1735. 


HUNGARY 


In  memory  of  the  brilliant  Hungarian 
musician,  Franz  Liszt  (1811' 1886),  this 
2 pengo  piece  was  issued  on  the  50th 
anniversary  of  his  death.  The  appeal 
of  Liszt  to  the  world  of  music  and  to 
the  world  at  large  was  made  in  a three' 
fold  capacity  — Liszt,  the  unrivalled 
pianoforte  virtuoso;  Liszt,  the  conduc' 
tor,  teacher  and  writer;  and  Liszt,  the 
prolific  composer.  As  a pianist  he  held 
his  own  for  the  entire  period  during 
which  he  chose  to  appear  in  public  and 
he  was  greeted  everywhere  he  performed 
with  adulation  and  frantic  applause. 
From  1848  until  1861  he  settled  at 
Weimar  conducting  at  the  court  and 
also  giving  instruction  to  many  promitv 
ent  pianists.  He  began  to  write  articles 
of  musical  criticism  and  essays  on  music 
which  helped  to  introduce  many  aspim 
ing  composers  to  the  public.  He  was 
ambitious  to  found  a school  of  pianists 
and  composers  and  his  efforts  along  these 
lines  were  rewarded  with  a considerable 
measure  of  success.  During  these  years 
the  first  of  his  own  musical  composi' 
tions  was  introduced  to  the  public  and 
until  his  death  his  musical  works  coil' 
tinued  to  pour  forth  in  an  unending 
stream.  He  tried  his  hand  at  most  forms 
of  composition  and  has  left  us  piano' 
forte  pieces,  songs,  symphonic  orchestral 
pieces,  cantatas,  masses  and  other  musical 
pieces,  all  of  a uniform  excellence. 


November'December,  1947 


35 


THE  ROYAL  MINT  OF  SWEDEN 

By  ERNST  LOWENHIELM 


In  the  early  days,  the  idyllic  town  of 
Sigtuna,  situated  on  Lake  Malaren  in 
Sweden,  was  the  residential  capital  tor 
Swedish  royalty.  Nowadays  Sigtuna  is 
not  a significant  town,  hut  it  was  here 
that  the  first  Swedish  mint  was  built,  and 
in  the  years  1016' 1059  this  mint  stamped 
coins  tor  Kings  Olof  Skotkonung  and 
Anund  Jakob.  These  coins  were  of  a 
quite  artless  character,  being  stamped 
with  various  symbols  in  the  center,  and 
having  an  inscription  all  around.  The 
names  appearing  on  such  coins  are  in 
all  likelihood  those  of  the  coin-makers, 
since  no  masters  are  known  of  that 
period.  In  1050  the  minting  was  dis- 
continued and  was  not  resumed  else- 
where until  1170  when  King  Knut  Erik- 
sson ordered  the  building  of  a mint  in 
Vasteras. 

Was  it  then  possible  to  live  without 
coins  in  Sweden  at  th.it  time?  Certainly 
not!  One  used  coins  ol  many  different 


mmtings  ol  many  different  countries,  as 
numerous  findings  to  this  day  are  wit- 
ness. The  most  recent  find  of  such  coins 
was  made  during  the  harvesting  of  a 
sugarbect  crop  in  Oland  during  Novem- 
ber, 1946.  The  find  consisted  of  5 5 
Roman  solidii  from  400-500  A.D. 

Vasteras  was  in  oldentimes  called 
Aros,  and  King  Knut  Ericksson’s  coins 
are  provided  with  the  locality  mark 
“Aros”.  Here  also  coins  were  stamped 
for  the  reigning  princes  Sten  Sture  the 
Older,  Johan  II,  Svante  Sture  and  Sten 
Sture  the  Younger.  The  first  mint  master 
who  is  mentioned  is  Conradus  in  the 
year  1315.  Another  is  Cornelius  Jakob- 
sson  (1480-1512.)  Later  in  Aros  “orti- 
gar”,  “halvortigar"  and  “pennigar  ' (one 
mark,  half  mark  and  2 Ore)  wer£ 
stamped,  but  the  minting  stopped  during 
the  reign  of  Gustav  Wasas  in  1540. 

During  the  course  of  time,  mints  have 
been  founded  on  no  less  than  twenty- 


136 


November- December,  1947 


The  Royal  Mint  of  Sweden 


seven  different  places  in  the  country, 
and  moreover  at  seven  different  places 
in  the  capital.  In  the  old  days,  a mint 
was  sometimes  built  where  the  metal 
was  mined,  for  example  at  Sala  and 
Falun,  respectively  silver  and  copper 
mines,  or  where  a waterfall  afforded 
cheap  energy,  such  as  at  Avesta  on  the 
Dalalven.  At  the  present  time  there  is 
hut  one  mint  in  Sweden — The  Royal 
Mint  situated  in  Stockholm  on  the  Mah 
aren,  as  was  Sigtuna. 

The  Swedish  mint  has  had  a succes- 
sion of  prominent  mint-engravers,  the 
three  latest  may  he  mentioned,  namely, 
Lea  Ahlborn,  Adolf  Lindberg,  and  Erik 
Lindberg,  the  last  two  mentioned  having 
been  given  the  honour  and  dignity  of 
a professor.  Erik  Lindberg  was  the  son 
of  Adolf  Lindberg  and  was  some  years 
ago  succeeded  by  his  pupil  Leo  Holm- 
gren. The  workshops  are  supervised 
by  the  superintendent-engineer  Nils 
Wahlenberg,  who  has  an  engineer-assist- 
ant  and  five  foremen.  At  the  Royal 
Mint  thirty-two  workmen  are  engaged. 
The  position  of  chief  of  the  mint  is 
held  by  Mintdirektor  Swensson. 

Since  1932  an  electric  melting  pot 
has  been  used  for  melting  the  metals. 
This  takes  about  100  kg.  of  metal  which 
melts  at  a temperature  of  1.000—1.100 
degrees  Centigrade.  Six  such  pots  are 
melted  every  day,  supervised  by  two 
shifts  of  workmen.  When  the  metals 
have  been  melted,  the  alloy  is  poured  in 
form  (kokills).  At  the  pouring  one 
obtains  “tens”  about  52  x 6 x 1 cm. 
The  dimensions  vary  a little  for  the 
different  kinds  of  coins.  These  “tens” 
are  flattened  to  precise  thickness  and  the 
flans  are  cut  out.  They  are  then  stamped 
in  five  coining  presses.  One  very  old 
machine  is  used  in  the  mint.  This 
machine  was  invented  and  manufactured 
by  D.  Uhlhorn  in  Grevenbroich  bei  Coin 
am  Rhein  in  1857,  according  to  a plaque 
on  the  machine.  It  is  used  for  the  mint- 
ing of  large  coins,  producing  65  a 
minute.  The  other  machine  is  manu- 
factured by  the  joint  stock  company 


Schuler,  Goppingen,  and  was  purchased 
in  1930,  and  produces  90  coins  a 
minute.  All  Swedish  coins  are  char- 
acterized by  peculiar  accuracy.  When  the 
coins  are  finished  they  are  counted  on 
a ciphering  board  and  at  the  same  time 
examined  on  both  sides  in  order  that 
no  defective  coins  are  put  into  circula- 
tion. Thereafter  they  are  weighed  under 
the  supervision  of  a public  servant  be- 
fore they  are  placed  in  sacks.  Gold  coins 
are  not  circulated  at  present.  Silver  and 
bronze  coins  are  calculated  to  circulate 
about  fifty  years.  Even  today  one  some- 
times finds  an  old  “enkrona”  of  1875 
(the  first  year  of  the  current  coins)  in 
circulation. 

In  the  year  1942  silver  coins  of  a 
lower  standard  were  minted.  The  reason 
for  this  was  partly  lack  of  silver,  partly 
increased  demand  for  small  money.  This 
resulted  in  a troublesome  demand  for 
coins  that  as  yet,  in  spite  of  the  ending 
of  the  war  and  enormous  mintings  dur- 
ing  the  recent  years,  has  not  abated.  As 
an  explanation  of  this  situation,  one 
supposes  that  good  times,  low  interest, 
hard  taxation  on  income  and  inherit- 
ances, have  all  combined  to  impel  many 
people  to  collect  ringing  coins  on  the 
bottom  of  a chest. 

Coin  Denominations  of  Swedish  Mints 

16th  Century:  ortug,  ore,  riksdaler, 
makr. 

17th  Century:  ore,  fyrk,  mark,  salvator- 
daler,  dukat,  daler  solff  mynt  and 
daler  silt  mynt. 

18th  Century:  dukat,  daler  silf  mynt 
and  skilling  (coppercoin)  and  also 
the  great  square  coppercoins  (10- 
daler  silvermynt)  the  weight  of 
which  could  be  as  much  as  19,700 
kg. 

19th  Century:  dukat,  daler,  skilling, 
riksdaler,  ore,  krona. 

Current  coins: 

Gold:  90%  gold,  10%  copper  20, 
10,  5 kronor. 

( Continued  on  page  141) 


November-December,  1947 


137 


THE  DEVELOPMENT  OF  CURRENCY  AND 

BANKING  IN  FLORIDA 

By  FRED  R.  MARCKHOFF 

( Continued  from  previous  Journal) 


4.  Currency  and  Banking  in  Florida 
Under  the  Confederacy,  1861-1865. 

War  and  secession  in  1861  called  for 
a rapid  hut  complete  revision  of  financ' 
ing,  and  no  time  was  lost  in  providing  it. 
Legislators  approved  a $500,000.  issue 
of  State  Treasury  notes  in  8 denomina' 
tions,  from  $1  to  $100,  on  Feb.  14,  1861. 
One  authority  states  that  from  October 
to  December,  1861,  $288,000.  in  $l’s; 
$23,758.  in  $2's  and  $13,362.  in  $3’s 
were  put  into  circulation.  A secondary 
source  of  revenue  was  found  in  20  year 
89c  Bonds,  but  these  were  mainly  of 
high  denominations  and  were  not  popu' 
lar. 

Early  in  1861  five  of  the  leading  banks 
received  increased  capitalizations.  The 
money  realized  went  directly  into  the 
State  Treasury,  with  public  lands  pledged 
as  security  for  stockholders. 

Sensing  the  all  important  need  of 
sustaining  the  value  of  State  Treasury 
notes,  Legislators  decreed  that  the  circu' 
lation  of  solvent  banks  which  received 
these  State  notes  at  par,  would  be  re- 
ceived  at  full  value  for  all  taxes.  State 
taxes  on  such  banks  was  suspended. 
Banks  not  accepting  the  State  notes  at 
par  were  forbidden  to  issue  notes  of  less 
than  $20.  value. 

In  1861  the  three  main  currencies  in 
Florida  were  bank  notes,  State  Treasury 
notes  and  “railroad  change  bills.  The 
latter  were  issued  mainly  by  railroads  in 
denominations  up  to  $1.  Although  not 
legal  tender,  they  were  paid  out  to  who' 
ever  would  accept  them  and  in  turn 
were  receivable  for  all  railroad  dues.  In 
most  cases  they  were  willingly  accepted. 
By  Dec.  1861,  bank  note  circulation  was 
$1  16,252,  backed  by  $55,071.  in  specie. 

A Dec.  1861  law  rendered  illegal  all 
company  or  corporation  bills  of  less  than 
$5.  except  “rairoad  money”  change  bills 


At  the  same  time  corporations  were 
allowed  to  pay  out  these  railroad  bills  for 
their  obligations.  Banks  were  authorized 
to  “suspend  specie  payments  from  the 
first  day  of  Jan.  1862  until  12  months 
after  the  close  of  the  present  war.”  This 
merely  legalized  an  action  most  banks  had 
taken  even  before  the  war  began. 

By  mid' 1862  Confederate  State  notes 
made  their  appearance  in  great  numbers. 
The  effect  was  immediate.  People  hoarded 
State  Treasury  notes,  which  were  secured 
by  public  lands,  and  spent'  only  the  Con' 
federate  issues.  The  latter  was  all  that 
flowed  into  the  State  Treasury  and  other 
taxing  bodies.  The  State  notes  were 
used  mainly  to  purchase  land,  which 
prior  to  late  1862,  had  been  purchasable 
only  with  gold  or  silver. 

A Dec.  1862  law  prohibited  issuance 
of  fractional  currency  by  any  person  or 
corporation  without  express  authoriza' 
tion  of  law.  This  resulted  in  cities  issuing 
fractional  scrip  with  State  approval. 
Tallahassee  and  Pensacola  were  among 
the  first  to  do  so.  The  latter  was  author' 
ized  to  issue  5c,  10c,  25c  and  50c  notes, 
up  to  $2  5,000.  value.  Each  city  was  to 
redeem  its  bills  or  receive  them  in  pay' 
ment  of  dues  within  12  months  after 
the  war's  end. 

By  late  1862  bank  notes  had  practic' 
ally  disappeared  from  circulation.  Their 
place  was  taken  by  Confederate  notes, 
which  appeared  in  ever  growing  amounts. 
The  story  of  money  in  Florida  from  1863 
to  1865  is  but  a study  of  State  and  Con' 
federate  issues. 

Accurate  data  on  the  Florida  State 
Treasury  notes  is  difficult  to  find.  Air 
thorized  amounts  of  an  issue  were  oj^ten 
exceeded.  Records  of  circulation  were 
kept  by  fiscal  years,  even  though  an 
authorized  issue  was  often  placed  in  cir' 
dilation  over  several  fiscal  years.  Fob 
lowing,  however,  is  a list  of  each  au' 


138 


November'December,  1947 


The  Development  of  Currency  and  Banking  in  Florida 


■ 


Si«M 


DOLLARS 


/ //  «*///,/// 


ijjiSsMmrm 


it  ITER  jt  l.Vtyi&H. 


fsm sas 


yy/jjyy 


wmmn 


thorued  Act,  the  amount  and  purpose 
of  each  issue: 

Act  of  Feb.  1861— $500,000. 

This  was  the  original  issue  to  provide 
legal  tender  for  the  State.  Dated 
Oct.  10,  1861. 

Act  of  Dec.  1861— $500,000. 

For  payment  of  War  Tax  to  Con- 


federate Government.  Dated  Jan.  1 
1862. 

Aet  of  Dec.  1862  $300,000. 

Same  as  first  issue;  an  additional  print- 
ing thereof.  Dated  Oct.  10,  1861. 

Act  of  Dec.  1862— $300,000. 

Expressly  for  relief  of  soldiers’  fam- 
ilies; re-issue  made. 


139 


November-December,  1947 


The  Development  of  Currency  and  Banking  in  Florida 


$200,000.  to  provide  more  fractional 
hills.  Dated  Feb.  2 or  March  1,  1863. 

Act  of  Dec.  1863— $300,000. 

For  further  relief  of  soldiers'  families. 
Dated  March  1,  1864. 

Act  of  Dec.  1864  $350,000. 

For  general  relief;  public  lands  ex' 
pressly  pledged  for  redemption.  Dated 
Jan.  1,  1865. 

TOTAL  $2,450,000. 

An  interesting  sidelight  on  these  figures 
reveals  that  the  second  $300,000.  notes 
printed  by  Act  of  Dec.  1862  were  divided 
as  follows:  $50,000.  in  fractional  cur- 
rency;  $30,000.  in  each  of  $1,  2,  3,  5 and 
10  denominations;  $25,000.  in  each  of 
$20's  and  $50's;  and  $50,000.  of  $ 100’s. 
The  Governor,  however,  declared  too 
many  large  bills  had  been  printed  and 
the  $20's  and  $50's  were  not  circulated. 
An  entire  new  issue  was  printed  of  frac' 
tional  bills,  bearing  Feb.  2,  1863  date, 
many  printed  on  the  backs  of  broken 
bank  curency. 

By  1864  inflation  and  hard  times  were 
permanent  factors  to  consider.  Circm 
lation  on  Oct.  31,  1864  was  $1,103/ 
622.07,  an  increase  over  1863.  As  the 
conflict  drew  closer  to  Florida’s  borders 
Confederate  notes  were  about  the  only 
circulating  currency  and  these  were  utv 
der  heavy  discount. 

The  issue  dated  Jan.  1,  1865  was  in 
$40,000.  of  $50's;  $120,000.  of  $ 100's, 
and  $190,000.  of  $500’s.  A difficult  to 
explain  issue  was  also  made  in  April, 
1865,  when  $363,500.  of  $50's  was 
printed.  The  January  issue  is  recorded 
as  having  been  sent  to  the  Governor  for 
signature  but  there  is  no  record  of  how 
many  went  into  circulation.  The  fever' 
ish  activity  and  uncertainty  caused  by 
the  approaching  armies  is  believed  re' 
sponsible  for  these  actions.  Most  of  the 
later  notes  were  presumably  destroyed  to 
prevent  capture. 

Authorized  State  Treasury  note  issues 
of  seceded  Florida  reached  $2,450,000, 
of  which  it  is  stated  $2,239,640.  was  put 


into  circulation.  This  figure  seems  high 
in  view  of  the  great  scarcity  of  the  1865 
issue  and  probably  includes  unauthorized 
increases  of  various  issues.  $1,800,0U0. 
of  these  notes  were  outstanding  on  May, 
1865.  Of  the  $500,000.  Bonds  printed, 
$300,000.  were  sold.  After  the  war, 
State  Treasury  notes  and  bonds  were 
necessarily  repudiated  as  part  of  an  illegal 
debt. 

7.  Reconstruction  Currency  and  Bank- 
ing in  Florida,  1865-1873. 

The  immediate  post  war  period  was 
one  of  unrest  and  economic  distress.  The 
commercial  and  political  situation  left 
little  need  for  currency  or  banks,  ah 
though  new  State  Constitutions  of  1865 
and  1868  contained  banking  clauses 
similar  to  the  pre-war  Constitution,  ex' 
cept  that  currency  issues  were  forbidden. 

No  banks  were  chartered  between 
1862  and  1869.  In  1868  Gov.  Reed 
vetoed  a "Florida  Savings  Bank”,  claim' 
ing  it  was  an  out  of  State  attempt  to 
control  finances.  Large  commercial  financ' 
ing  when  needed  was  supplied  by  New 
York  firms,  such  as  Jay  Cooke  6?  Co., 
N.  Y.  Warehouse  & Security  Co.,  Soulter 
C Co.  and  others. 

St.ite,  city  and  county  governments 
issued  warrants  during  this  period  to 
pay  wages,  dues,  etc.  With  incoming 
revenue  very  low  it  was  an  unavoidable 
action.  This  scrip  became  the  common 
circulating  medium  of  all  classes.  It  was 
receivable  at  full  value  only  for  taxes. 
Amount  of  this  scrip  in  use  jumped  from 
$57,492.32  in  1868  to  $563,524.89  by 
Jan.  1,  1872. 

The  first  post  war  charter  granted  was 
to  the  Escambia  Banking,  Building  & 
Loan  Association  of  Pensacola  in  1870. 
Its  purpose  was  to  make  real  estate  loans, 
without  privilege  of  circulation.  Flow' 
ever,  this  enterprise  and  the  Planters  LcJan 
& Trust  Co.  of  Pensacola  chartered  in 
1872  never  got  beyond  the  organization 
stage. 

A few  private  banks  operated  on  a 
small  scale.  These  included  Anderson, 


140 


November'December,  1947 


The  Development  of  Currency  and  Banking  in  Florida 


Hyer  6?  Co.  of  Pensacola,  1865;  D.  G. 
Ambler  of  Jacksonville,  1868;  H.  S. 
Dewey  of  Jacksonville,  1872;  H.  F.  Dut- 
ton  Co.  of  Gainesville,  1873,  and  pos- 
sihly  Judah  & Le  Baron  of  Pensacola. 

6.  Early  National  Banking  in  Florida, 

1874-1882. 

By  1874  Florida  had  recovered  suffi- 
ciently to  warrant  chartering  of  the  First 
National  Bank  of  Jacksonville,  on  Aug. 
24,  1874,  Charter  No.  2174.  It  actually 
opened  lor  business,  Sept.  26,  1874.  Gen. 
T.  W.  C.  Moore  and  his  son-in-law, 
F.  C.  Spinner,  the  U.  S.  Treasurer,  were 
interested,  the  former  as  its  President. 
It  went  into  receivership  on  March  14, 
1903. 

On  Oct.  12,  1874  D.  G.  Ambler 
chartered  the  Ambler  National  Bank  of 
Jacksonville,  Charter  No.  2194.  Ambler, 
however,  voluntarily  liquidated  on  Dec. 

7,  1874  with  no  circulating  notes  out- 
standing. He  later  returned  to  private 
banking.  The  third  national  charter  in 
Florida  was  the  First  National  Bank  of 
Pensacola,  opened  Aug.  10,  1880,  under 
Charter  No.  2490.  It'  went  into  receiver- 
ship on  Jan.  22,  1914. 

Only  $57,000.  of  First  Charter  Period 
currency  was  issued  by  the  3 Florida 
national  banks,  2 of  which  were  still 
active  on  Nov.  1,  1882.  National  bank- 
note circulation  was  only  $27,000,  in 
1875  and  $40,800.  in  1876.  Early  Flor- 
ida national  bank  notes  are  very  scarce 
collector  items  today. 

The  banking  law  of  1889  introduced  a 


new  liberal  era  in  Florida  and  all  types 
of  banks  increased  in  numbers  thereafter. 
The  State  Savings  Bank  of  Tallahassee 
was  the  first  to  open  under  this  new  law 
in  1889. 

The  writer  would  like  to  thank  W.  T. 
Cash  of  the  Florida  State  Library  Board; 
J.  C.  Yonge  of  the  University  of  Florida 
and  Alberta  Johnson  of  the  Florida  His- 
torical Society  for  their  co-operation. 
For  other  data  on  this  subject  see  Wis- 
mer’s  Feb.  1923  article  in  the  Numis- 
matist, State  Bank  Notes  by  Muscalus 
and  Confederate  and  Southern  State 
Currency  by  Bradbeer,  reprint  by  Green. 


THE  ROYAL  MINT  OF  SWEDEN 

( Continued  from  page  137) 

Silver:  Before  1942;  5 kronor  (90% 
silver),  2,  1 krona  (80%  silver), 
50,  25  ore  (60%  silver),  10  ore 
(40 /V  silver)  the  rest  copper. 
After  1942:  5,  2,  kronor,  1 krona, 
50,  25,  10  ore,  all  containing  40% 
silver,  50%  copper,  5%  nickel 
and  5 % zinc. 

Copper:  5,  2,  1 ore  (95%  copper, 
4%  tin,  1%  zinc). 

Nickel:  5 0,  25,  10  ore  (25%  nickel 
and  75%  copper). 

Iron:  5,  2,  1 ore  (pure  iron). 

The  obverse  of  the  coins  of  high  value 
up  to  and  including  1907  bear  the  por- 
trait of  King  Oscar  II  and  thereafter 
that  of  King  Gustav  V,  who  is  now  89 
years  old. 


HISTORICAL  VALUE  OF  LOWLY  MASSACHUSETTS  COPPER 


When  considering  numismatics  as  an 
aid  to  historians  and  other  scholars  we 
usually  visualize  ancient  coins  buried  in 
the  rubble  of  long  forgotten  village  sites. 
However,  Clarence  L.  Andrews,  in  his 
book  “The  Story  of  Alaska”  relates  on 
page  52  how  two  insignificant  little 
Massachusetts  coppers  gave  valuable  in- 
formation to  a trader  visiting  the  north- 
west' coast  of  America  years  ago.  He 


states  “Etienne  Marchard,  in  the  ship 
Sohde,  entered  Sitka  Sound  on  August 
12,  1791,  anchored  his  ship  in  Krestof 
Bay,***to  trade  with  the  Sitkas.  He  was 
not  fortunate  in  his  bargaining  for  other 
traders  had  been  there  before  him.  In 
the  ears  of  one  young  man  he  saw  two 
copper  coins  of  Massachusetts,  worn  as 
pendants,  showing  that  the  Yankee  trad- 
ers had  preceded  him”. 


November-December,  1947 


141 


His  r a n o A m eric  an  a 


N°4  ENLARGED 


SANTA  PE  DE  BOGOTA  MINT  — NR. 


142 


Novcmber-Decemhcr,  1947 


The  Early  Coinage  in  Silver  of  fhe  Santa  Fe  de  Bogota  Mint 


The  earliest  silver  coins  from  the 
Santa  Fe  de  Bogota  mint  in  the  Spanish 
Colonial  viceroyalty  of  New  Granada 
(now  Colombia)  were  struck  during  the 
reign  of  Philip  IV.  The  history  of  the 
mint  in  its  early  days,  and  the  date  of 
its  foundation  are  shrouded  in  mystery. 
J.  T.  Medina  states  that  there  is  no 
knowledge  of  when  the  mint  there  started 
operation. 

The  coins  are  known  by  few  examples 
during  the  reigns  of  Philip  IIII,  Charles 
II,  and  Philip  V,  but  no  collection  known 
to  the  writer  contains  anything  like  a 
complete  series,  in  fact  it  is  unusual 
for  a collector  or  a museum  to  own 
more  than  one  or  two  pieces.  Herrera 
in  "El  Duro”  catologs  only  four  ex- 
amples  of  the  8 reales  denomination 
divided  between  the  three  reigns,  a 
period  of  125  years.  Herrera  could  End 
but'  one  record  of  an  8 reales  piece  for 
Charles  II  reign,  the  Fonrobert  piece 
of  1690,  and  was  forced  to  use  the 
drawing  of  it  as  his  illustration  in  "El 
Duro”.  None  of  the  other  large  cob 
lections  Herrera  consulted  owned  a 
single  piece.  Lucky  indeed  is  the  collec- 
tor today  who  has  one  piece  in  his 
cabinet. 

One  of  the  first  parts  of  the  American 
continent  visited  by  the  Spanish  naviga- 
tors was  the  coast  of  Colombia.  As 
early  as  1508  the  Spanish  Crown  granted 
land  in  this  region  and  small  settle- 
ments were  made  on  the  coast. 

Santa  Marta  at  the  mouth  of  the 
Magdalena  River,  which  flows  north- 
ward into  the  Caribbean  Sea,  was  found- 
ed by  Rodrigo  de  Bastidas  in  1 525.  It 
became  a center  for  missionaries  and  also 
considerable  trade.  Santa  Marta  was 
also  the  entry-port  of  the  expedition  of 
Gonzalo  Jimenez  de  Quesada,  who  made 
his  way  inland  by  the  Magdalena  River, 
reached  the  highlands  of  Bogota  by  foot 
and  horse  and  founded  the  rich  Spanish 
realm  of  Nueva  Reino  de  Granada.  In 


April  15  36,  that  memorable  year  that 
saw  the  founding  of  the  first  mint  in 
America  at  Mexico  City,  Quesada  led  a 
large  and  well-fitted  expedition  in  five 
good  ships  southwards  up  the  Magdal- 
ena. 

When  the  ships  had  to  be  abandoned, 
Quesada  an  unsurpassed  leader,  took  his 
men  south  over  land  fraught  with  danger 
from  disease,  Indians  and  other  perils. 
In  spite  of  this  the  party  reached  the 
cool  and  beautiful  highlands  of  Bogota 
with  166  men  and  59  horses.  The 
Chibcha  Kingdoms  put  up  a brave  fight 
against  the  invaders,  but  knights  in 
armor,  cavalry  and  above  all  firearms, 
could  not  be  resisted  for  long  by  native 
weapons.  By  the  end  of  January  1538 
the  conquest'  of  the  Chibehas  was  an 
accomplished  fact.  Booty  mostly  in  gold 
and  emeralds  was  taken  amounting  to 
about  $550,000  in  value. 

On  August  6,  15  38  Jimenez  de  Ques- 
ada founded  the  city  of  Santa  Fe  de 
Bogota,  named  after  his  birthplace  and 
the  southern  capital  of  the  Chibcha’s, 
Bacata.  The  city  became  the  capital 
of  the  Viceroyalty  of  Nuevo  Granada 
and  when  Quesada’s  forces  were  joined 
by  a party  of  Spaniards  led  by  Sebastian 
de  Benalcazar  from  the  direction  of 
Quito  and  another  party  from  the  direc- 
tion of  Venezuela,  led  by  Nicholas  Fcder- 
man,  an  employee  of  the  Welsers,  the 
parties  merged  and  so  consolidated  Span- 
ish power  in  the  new  viceroyalty. 

Treasure  for  Spain  traveled  overland 
by  mule  trail  from  Bogota  to  San  Bar- 
tolome  de  Honda,  on  the  west  bank  of 
the  Magdalena  River,  580  miles  above 
its  mouth  at  Santa  Marta.  From  Honda 
the  gold,  silver  and  emeralds  were  car- 
ried by  small  boats  or  canoes  to  the 
Caribbean,  where  they  were  transferred 
via  Santa  Marta  and  Cartagena  to  await 
the  annual  plate  fleet  for  Spain.  "Here 
ye  flota  gathers  to  hasten  ye  King’s 
treasure  to  Old  Spaine”  reads  the  spot  on 


November-December,  1947 


143 


Hispano  American  a 


an  ancient  map  made  tor  the  benefit  of 
sea-rovers  who  laid  in  wait  for  the 
treasure  galleons. 

Workmen  clearing  up  the  river  bank 
in  August  1935,  found  a bucket  of  2 
escudo  gold  pieces  which  appeared  to 
be  from  the  mint  during  the  time  of 
Philip  III.  The  Banco  de  la  Republica 
acquired  part  of  this  hoard  for  the 
National  Coin  Collection  and  they  were 
illustrated  and  described  in  The  Coin 
Collector's  Journal  Vol.  IV.  Pg.  64. 
But  the  gold  pieces  are  another  story. 

The  Philip  IV  silver  pieces  are  known 
in  denominations  of  1,  2,  4 6?  8 reales. 
The  8 reales  pieces  have  been  noted  for 
the  years  1656,  165  7,  1662  and  1665, 
and  no  doubt  they  exist  tor  other  years. 
They  show  the  crowned  shield  of  Castile, 
Leon  and  Granada  between  a pattern 
ot  6 dots  (on  the  1656  piece)  or  be- 
tween the  Roman  numeral  VIII.  (ver- 
tically) and  a stylized  pomegranate  (on 
the  Salbach  Coll.  No.  2900  piece).  The 
lions  are  highly  ornate  and  look  almost 
like  dragons,  entirely  ot  a different  de- 
sign from  any  of  the  other  Spanish 
Colonial  mints.  The  reverse  of  the  8 
reales  pieces  shows  the  crowned  Pillars 
of  Hercules,  based  in  waves,  with  the 
motto  PLVS/VL  TRA  in  three  lines, 
above  and  between  the  crowns  on  the 
pillars,  and  NR,  between  the  pillars  at 
the  base.  The  NR  is  the  mint  mark  tor 
Nueva  Reino,  and  not  as  Herrera  in 
“El  Duro”  interpreted  it,  tor  Nicaragua. 
At  the  left  of  the  pillars,  vertically  and 
reading  upwards  is  P°RS,  the  meaning 
ot  which  is  unknown  to  this  writer.  At 
the  right  of  the  pillars  and  reading 
downwards  vertically  is  the  date.  The 
legends  on  all  these  coins  seldom  appear 
as  the  blanks  are  either  small  or  irregu- 
lar cobs  but  they  read  PHILIPPVS.  IIII. 
D.G.  on  the  obverse  and  HISPANI- 
ARVM.  ET.  INDIARVM.  REX  on 
the  reverse  as  far  as  can  be  distinguished. 
(See  Nos.  1 &*  2 on  plate)  The  Sal- 
bach piece,  which  is  also  listed  in  “El 
Duro”  as  No.  792,  is  counterstamped 
on  the  reverse  with  the  toison  d or  or 
Golden  Fleece  as  legal  tender  in  the 
Spanish  Netherlands. 


Only  one  example  of  Philip  IV,  of 
four  reales  denomination  has  been  noted 
and  that  is  the  American  Numismatic 
Society  Museum  piece  illustrated  here 
as  No.  3. 

Of  the  Philip  IV,  2 reales,  two  are 
catalogued.  Vidal  Quadras  y Ramon 
shows  a rubbing  of  his  No.  8624  as 
Illustration  5 on  Plate  49.  The  date  is 
not  readable.  The  other  in  Monedas 
hisjoano 'Am  eric  anas  by  J.  T.  Medina  as 
No.  303  is  dated  1665  and  belonged  in 
the  Coll.  Senor  Vazquez  in  Guatemala. 

The  possibly  unique  example  of  a 1 
real  piece  of  Philip  IV  appeared  this 
year  and  is  shown  as  No.  4.  It  is  well 
struck  but  the  reverse  is  not  centered  on 
the  blank.  The  motto  was  evidently 
shortened  to  P L V,  divided  by  the 
pillars.  At  the  top  between  the  crowns 
the  pomegranate  is  shown,  which  is 
rather  misleading  as  it  looks  like  an 
Arabic  numeral  2.  The  denomination 
however  is  on  the  obverse  at  the  right 
ot  the  shield.  The  shield  is  so  crowded 
by  lions  and  castles,  that  the  die  maker 
could  not  include  the  pomegranate  and 
so  put  it  on  the  reverse  of  the  coin  be- 
tween the  crowns  on  the  pillars. 

One-half  reales  of  this  mint  tor  the 
periods  of  Philip  IV,  Chas.  II  or  Philip 
V have  not  been  located  by  the  writer. 

The  Charles  II  silver  coinage  is  also 
rare  in  this  series.  The  author  has  been 
able  to  trace  only  the  following:  8 
reales  pieces  of  the  years  1667,  1668, 
1670  (shown  as  No.  5),  and  1690:  two 
examples  of  4 reales  dated  1676  and 
1693.  And  none  of  the  2 r.,  1 r.,  or 
Zl  reals  tor  this  reign  have  been  noted 
in  any  published  or  known  collections 
which  the  writer  has  seen. 

Of  Philip  V scries  tor  this  mint,  the 
writer  has  never  seen  an  example.  Her- 
rera in  El  Duro  shows  an  8 reales  from 
the  Madrid  Mint  collection  on  Plate 
XVIII,  No.  6 and  Medina  shows  one 
dated  1721  and  another  1722.  Adams 
in  the  Guttag  Catalog  showed  one  as 
No.  1186,  but  the  date  was  evidently 
double  struck  and  it  is  listed  as  165  5 
under  Philip  IV,  although  the  coin  is 
Philip  V style.  A photograph  of  a fine 

November-December,  1947 


144 


Hispano  American  a 


piece  dated  1702  is  shown  here  as  No.  6. 
It  will  he  noted  that  there  has  been  a 
change  in  the  design  of  the  various  parts 
ot  the  die  but  the  general  design  is  the 
same  as  that  of  the  earlier  reigns. 

No  4 reales  of  Philip,  nor  1 real  nor 
Zl  real  pieces  have  been  traced. 

Medina  shows  a 2 real  piece  dated 
1722,  and  D.  Antonio  Vives  mentions  a 
2 reales  dated  1724. 

There  must  be  many  more  pieces  from 
this  mint  in  existence.  They  seldom 
come  up  at  auction  and  it  is  doubtful 
that  there  exist  more  than  a few  scattered 
here  and  there  among  collections  which 
have  not  been  catalogued.  Sr.  Humberto 
Burzio  of  Buenos  Aires  in  his  recent 
book  on  the  Potosi  mint  mentions  a Don 
Jose  Prieto  de  Salazar  as  the  founder 
of  the  mint  at  Santa  Fe  in  1718  and 
says  that  he  was  tesorero  blanquecedor 
explaining  that  he  was  so-called,  as  in 
addition  to  serving  as  tesorero  he  was 
also  granted  the  duties  of  blanquecedor 
(“an  officer  employed  at  the  mint  to 
blanch,  clean  and  polish  the  coin”  says 
the  dictionary) . 

The  Santa  Fe  Mint  did  not  issue  the 
“two  hemisphere”  or  “Pillar  dollar” 
which  the  Mexico  City  Mint  started  to 
coin  in  1732,  until  the  reign  of  Ferdin. 
VI. 


CORRECTION 

In  the  May'June  issue  of  the  JOUR' 
NAL  full  credit  for  the  design  of  the 
Ellsworth'AmundseivNobile  medal  which 
commemorated  the  polar  flight  of  the 
dirigible  Norge  was  given  to  Mr.  John 
R.  Sinnock,  whereas  his  design  was 
used  only  on  the  obverse  of  this  medal. 
Mr.  Adam  Pietz,  at  the  time  the  medal 
was  issued  (1930)  was  assistant  engraver 
at  the  U.  S.  Mint,  and  created  the  de' 
sign  used  on  the  reverse  of  this  medal. 
Our  incomplete  information  on  the  de' 
sign  of  this  medal  was  taken  from  a 
Treasury  dispatch  which  failed  to  give 
the  whole  story  of  the  design. 


COMPLETE  SET  OF 
LINCOLN  CENTS 

1909—1946 

All  dates  and  mintmarks.  107  pieces 

All  ot  the  coins  in  this  set  are 
uncirculated.  The  scarce  dates  and 
mintmarks  are  as  nice  in  color  and 
sharpness  as  they  are  obtainable.  The 
1909  S VDB  and  1914  D are  both 
red.  A few  of  the  other  scarce  ones 
have  the  usual  reddish  bronze  toning 
which  is  the  only  way  they  ever 
appear.  All  other  pieces  are  mint 
red.  This  desirable  set  is  housed  in  a 
National  Coin  Album  with  space  left 
for  nineteen  forthcoming  cents. 

Price  £175.00 


COMPLETE  SET  OF 
WASHINGTON 
QUARTERS 

1932—1946 

All  dates  and  mintmar\s.  40  pieces. 

All  brilliant  uncirculated  and  choice 
made  up  right  out  of  the  original 
rolls.  Several  dates  and  mintmarks 
are  becoming  increasingly  difficult  to 
find  in  strictly  uncirculated  condition. 
By  purchasing  a complete  set,  you 
eliminate  the  almost  fruitless  search 
for  the  individual  pieces  which  are 
usually  “out  ot  stock”.  Housed  in 
a National  Coin  Album. 

Price  £85.00 


November- December,  1947 


145 


COINS  OF  THE  WORLD 


BELGIUM 

A Royal  Decree  of  November  10, 
1 0 3 8 authorized  the  striking  of  a new 
series  ot  coins  tor  Belgium.  Nickel 
pieces  ot  5 francs,  1 franc  and  50  cen- 
times  were  to  have  the  following  for 
their  reverse  types: 

5 francs  shields  ot  the  provinces  ot 
Brabant,  West  Flanders  and  Hain- 
aut. 

1 franc  shields  ot  the  provinces  ot 
Anvers  (Antwerp),  Limbourg  and 
Namur. 

5 0 centimes  shields  ot  the  provinces 
ot  Fast  Flanders,  Liege  and  Luxem- 
bourg. 

Just  before  the  new  coins  were  to  be 
introduced  into  circulation  it  was  dis- 
covered that  the  arms  of  the  provinces 
which  composed  the  reverse  types  did 
not  correspond  with  the  description  of 
the  pieces  in  the  version  of  the  Royal 
Decree  as  published  in  the  Official  Moni- 
teur.  In  order  to  legalize  the  issue  it 
was  necessary  to  promulgate  another 
Royal  Decree  of  December  5,  1938  alter- 
ing the  reverse  types  as  originally  an- 
nounced. In  accordance  with  the  amend- 
ed decree  the  following  pieces  were 
minted. 


Obverse  of  .ill  pieces:  Belgian  lion,  value 
to  right,  date  below. 


5 Fr.  (CW  35).  Reverse:  Shields  of 
the  provinces  of  Brabant,  Anvers, 
and  Liege.  Dated  1938,  1939. 

1 Fr.  (CW  36).  Reverse:  Shields  of 
the  provinces  of  West  Flanders, 
Namur  and  Limbourg.  Dated 
1939,  1940. 

50  Centimes.  Reverse:  Shields  of  the 
provinces  of  Hainaut,  East  Flanders 
and  Luxembourg.  The  50  centime 
piece  was  never  put  into  circula- 
tion. The  first  issues  were  ready 
for  distribution  in  1940  but  the 
invasion  of  Belgium  intervened  and 
the  pieces  were  withdrawn. 

The  pieces  were  engraved  by  Wynants. 

The  copper-nickel  lower  denomina- 
tions authorized  by  the  same  Decree 
bore  the  shields  ot  provincial  capital 
cities  as  their  reverse  types. 


Obverse  of  all  pieces:  Crowned  mono- 
gram of  Leopold  III,  date  below. 

2 5 Centimes  (CW  37).  Reverse:  Shields 
of  the  cities  of  Bruges,  Brussels, 
and  Mons.  Dated  1938,  1939. 

10  Centimes  (CW  38).  Reverse:  Shields 
of  the  cities  of  Anvers,  Hasselt  and 
Namur.  Dated  1938,  1939. 

5 Centimes  (CW  39).  Reverse:  Shields 
of  the  cities  of  Arlon,  Gand 
(Ghent)  and  Liege.  Dated  1939, 
1940. 

The  copper  nickel  pieces  were  en- 
graved by  Jespers. 


146 


November-December,  1947 


Coins  of  the  World 


The  50  Franc  silver  piece  authorized 
by  Royal  Decree  of  January  1 1,  1939 
also  bears  a series  of  shields  as  its  re- 
verse type. 


50  Francs  (CW  34) 

Obverse:  Head  of  Leopold,  left.  Date 
below. 

Reverse:  Under  a royal  crown,  the 
shields  of  the  nine  provinces  of 
West  Flanders,  East  Flanders,  An- 
vers, Limbourg,  Brabant,  Hainaut, 
Namur,  Luxembourg,  and  Liege. 
Dated  1939,  1940. 

The  piece  was  engraved  by  Rau. 

CZECHOSLOVAKIA 

We  have  been  informed  of  these  re- 
cent issues. 

2 korona  (copper  nickel).  Picture  of 
Janosik  and  value.  Authorized  by 
Law  78/  1947. 

1 korona  (copper  nickel).  Similar  to 
CW  No.  16  but  diameter  reduced 
from  25  m/m  to  21  m/m.  Author- 
ized by  Law  73/  1946. 

50  haleru  (bronze).  Two  sheaves  tied 
with  a ribbon.  Authorized  by  Law 
33/  1947. 

PROTECTORATE  OF 

BOHEMIA-MORAVIA 

During  the  years  following  the  estab- 
lishment of  the  Protectorate  of  Bohemia- 
Moravia  zinc  coinage  in  four  denomina- 
tions was  issued  by  the  authorities.  All 


of  this  coinage  was  minted  by  Messrs. 
Vichr  and  Co.  (at  present  the  Kovono 
National  Corp.),  Lysa. 

Zinc 

1 korona  (law  422/  1941).  Value  be- 
tween two  linden  boughs. 

50  haleru  (law  25  5/  1940).  Two 

sheaves  tied  with  a ribbon. 

20  haleru  (law  219  1940).  A sheaf 

with  a sickle  and  ribbon. 

10  haleru  (law  405/  1940).  Charles 
bridge  at  Praha. 

The  total  number  of  pieces  of  the 
coinage  struck  was 

1 korona  102  million. 

5 0 haleru  5 3 million. 

20  haleru  106  million. 

10  haleru  82  million. 

LUXEMBOURG 

A Grand  Ducal  Decree  of  September 
29,  1947  authorized  the  issue  of  these 
new  silver  commemorative  coins. 

Denomin.  Wght.  Dia.  Alloy 
100  francs  25  gr.  37  mm.  835  % silver 

165  % copper 

50  francs  12.5  gr.  31  mm.  165%  copper 
20  francs  8.5  gr.  27  mm.  165%  copper 

The  design  for  all  pieces  is  similar, 
bearing  a portrait  of  Prince  Jean  of 
Luxembourg  on  the  obverse  and  an 
effigy  of  King  John  the  Blind  mounted 
on  the  reverse. 

The  decree  authorizing  the  coins  de- 
clares that  they  will  be  legal  tender 
until  August  28,  1948  at  which  time 
they  will  lose  that  status. 

MEXICO 

The  Mexican  Mint  in  its  last  pub- 
lished Report  shows  the  following  coin- 
age issued  since  1940. 

Silver 

1 peso  1940,  43,  44,  45. 

50  centavos  1942,  43,  44,  45. 

20  centavos  1942,  43. 


November- December,  1947 


147 


Coins  of  thf:  World  United  States  Coins 


Copper  Nickel 

10  centavos  1940,  42,  45. 

5 centavos  1942. 

BRONZE 

2 centavos  1941. 

1 centavo  1940,  41,  42,  43. 

BRONZE  “Z” 

20  centavos  1943,  44,  45. 

5 centavos  1942,  43,  44,  45. 

1 ce  ntavo  1944,  45. 

Bronze  "Z  contains  950%  copper, 
40%  zmc  and  10%  tin  whereas  the 
older  bronze  pieces  were  made  of  an 
alloy  of  950%  copper,  25%  zinc  and 
25%  tin. 


COMPLETE  SET  OF 
LIBERTY  HEAD 
NICKELS 

1883—1912 

Proofs 

All  dates  and  both  types  of  1883 
Two  mintmarks  not  included 

This  is  truly  a superb  set  of  this 
popular  series.  They  are  all  brilliant 
including  the  1885  and  1886.  A col- 
lector trying  to  form  a comparable 
one  by  shopping  for  individual  pieces 
would  find  it  almost  impossible  and 
quite  likely  more  expensive  in  the 
long  run.  Housed  in  a National  Coin 
Album.  Price  £165.00 


UNITED  STATES  COINS 


Varieties  of  the  Roosevelt  Dime 


The  first  master  die  of  this  coin  was 
not  entirely  satisfactory.  The  initials 
of  the  engraver  ( IS)  are  not  well  formed, 
the  lower  lip  is  not  fully  defined  and 
the  hair  presents  a flat  appearance.  We 
.ire  informed  that  only  100,000  coins 
were  struck  from  this  first  die. 


A new  die  has  well  defined  initials 
(JS),  the  lip  is  more  fully  defined  and 
the  hair  lines  are  much  sharper,  par- 
ticularly presenting  a clean  line  at  neck. 

We  have  endeavored  to  illustrate  the 
two  varieties  but  the  differences  will  not 
show  up  very  strongly  in  the  half  tone 
process. 


148 


November-December,  1947 


Coinage  of  the  United  States,  by  Mints, 

During  the  Month  of  July,  1947 

Denomination  Philadelphia  San  Francisco  Denver 

SILVER 

Half  Dollars  

Quarter  Dollars  $1,342,000.00 

Dimes  49,000.00 

MINOR 

Five-cent  pieces  877,400.00  $180,000.00 

One-cent  pieces  1 16,000.00 


Coinage  of  the  United  States,  by  Mints, 
During  the  Month  of  August,  1947 

San  Francisco 


Denomination  Philadelphia 

SILVER 

Half  Dollars  

Quarter  Dollars  $139,000.00 

Dimes  1 14,000.00 

MINOR 

Five-cent  pieces  885,000.00 

One-cent  pieces 


Denver 


$674,000.00 


$51,000.00 

130,000.00 


128,600.00 


Coinage  Executed  for  Foreign  Governments 


Mint 

Philadelphia 

Philadelphia 

Country 

Ecuador 

Ethiopia 

Metal 

Nickel 

Silver 

Denomination 

1 Sucre 

50  Cents 

No.  of  Pieces 

7.805.000 

3.080.000 

Coinage  of  the  United 

States,  by  Mints, 

During  the 

Month  of  September,  S 947 

Denomination 

Philadelphia  San  Francisco 

Denver 

SILVER 

Flalf  Dollars 

Quarter  Dolla 

IS  

$110,000.00 

$24,900.00 

Dimes 

$1,0  5 5,000.00  1 24,000.00 

448,000.00 

MINOR 

Five-cent  pieces 

549,200.00 

One-cent  pieces 

1 18,000.00 

118,950.00 

Coinage  Exec 

;uted  for  Foreign  Governments 

Mint 

Country 

Metal 

Denomination 

No.  of  Pieces 

Philadelphia 

Ecuador 

Nickel 

1 Sucre 

6,016,000 

Philadelphia 

Ethiopia 

Silver 

50  Cents 

7,112,000 

November'December,  1947 


149 


LIST  OF  COINS  FOR  SALE 

We  have  only  single  specimens  of  most  of  the  coins  in  this  list.  In  order  to  avoid  disappoint- 
ment, order  early  and  send  a supplementary  list. 

Prices  are  net.  Cash  with  order  unless  collector  has  an  account  with  Wayte  Raymond,  Inc. 
Items  from  this  list  cannot  be  sent  on  approval  but,  if  not  satisfactory,  may  be  returned  within 
three  days  of  receipt.  Postage  extra  on  orders  under  $5.00.  Orders  for  less  than  $2.00  cannot  be 
filled  due  to  expense  of  handling. 

Abbreviations:  Unc. — Uncirculated.  Mint — an  uncirculated  coin  with  mint  lustre.  Superb — 
an  uncirculated  coin  of  particularly  fine  striking  and  appearance.  E.F. — Extremely  Fine.  V.F. — Very 
Fine.  F. — Fine.  V.G. — Very  Good.  Cm. — Countermarked.  I. — left.  r. — right:  Std: — seated: 
Stg. — standing.  CW — Coins  of  the  World,  1 9t h or  20th  Century. 

WAYTE  RAYMOND,  INC. 

P.  O.  BOX  431  MlNEOLA,  N.  Y. 


B64  Argentina.  1813  8 Rcales.  Ex.  fine  CW  5 

B6^  1844  Halt  Real.  Unc.  CW  19 

B66  1849  4 Reales.  V.F.  CW  21 

B67  18  7 2 8 Reales.  Cordoba.  V.F.  CW  3 7 

B68  1882  Peso.  Ex.  fine.  CW  60 

B69  1883  70  Centavos.  Unc.  CW  61 

B70  Australia.  1927  Canberra  florin.  Unc.  CW  9 

B71  Austria.  1780  Maria  Theresa  thaler.  Famous  trade  coin.  V.F. 

B72  Bavaria.  1828  Thaler.  Ludwig  1.  Royal  family.  Superb 
B73  1877  Thaler.  Maximilian  II.  Mariensaule.  Unc. 

B74  Belgium.  1939  70  Francs.  Leopold  III.  Mint.  CW  34 
B7  7 Bolivia.  184  3 8 Sueldos.  Bolivar  head.  Superb.  CW  6 
B76  187  7 4 Sueldos.  Bolivar  head.  Unc.  CW  10 

B77  1862  8 Sueldos.  400Gs.  Unc.  CW  22 

B78  Bombay.  1 797  7 Cash.  1794  10,  20  Cash.  Gilt  proofs.  CW^  7,  9,  10 

B79  Brazil.  1817  960  Reis.  John  P R.  Ex.  fine.  CW  86 

B80  182  7 320  Reis.  Peter  I Very  fine.  CW  109 

B81  1827  640  Reis.  Peter  I.  Superb.  CW  110 

B82  1823  960  Reis.  Peter  I.  Very  fine.  CW  111 

B8  3 1871  700  Reis.  Peter  II.  Proof.  CW  123 

B84  ( 1 808'  10)  Minas.  Spanish  dollar  cm.  with  arms,  globe  and  value  960.  Very  tine. 

CWr  178 

B87  1828  40  Reis.  Cuiaha  mint.  Unc.  CWr  400 

B86  British  Dollar.  1899  Britannia  stg.  V.F. 

B87  British  West  Africa.  1938  Set  3,  6d„  1,  2 Shil.  George  VI.  Unc.  CW  1619 

B88  Brunswick.  187  7 Double  thaler.  William.  Ex.  tine 

B89  Canada.  1937  Dollar.  George  V Jubilee.  Mint.  CW  13 

B90  1937  Specimen  set  of  6 coins  in  card  box.  Superb.  CW  22-27 

B91  1939  Dollar.  Parliament  buildings.  Mint.  CW  28 

B92  Chile.  1822  Peso.  Volcano.  Superb.  CW  1 

B93  1873  Peso.  Condor.  Uncirculated.  CW  21 

B94  (1879).  Provisional  peso.  Copiapo.  Fine.  CW  P 1 

B9  7 Chinese  Turkestan.  1903  (A.H.  1 320)  7 Miscals.  Urumchi.  Fine.  CW  17 


6.00 

3.70 

2.27 

7.00 

4.00 

1.70 
2 27 

2.00 

7.00 

2.00 

3.70 
7.00 

2.70 
7.00 

7.00 

3.00 

3.70 

3.70 

2.70 

1.27 

7.70 

2.70 

2.00 

2.70 

4.00 

3.00 

7.70 

2.27 

6.00 

1.70 
4.00 

6.70 


150 


November-Dccemher,  1047 


List  of  Coins  For  Sale 


B96  1905  3 Miscals.  Same  type.  Very  tine.  CW  18  5.00 

B97  1321.  A.H.  5 Miscals.  Aksu.  Fine.  CW  22  12.50 

B9S  Colombia.  1834  8 Reales.  Bogota.  Unc.  CW  22  4.00 

B99  Costa  Rica.  1887  50  Centavos.  Ex.  fine.  CW  26  2.00 

C01  Cuba.  1897  Souvenir  Peso.  Unc.  CW  1 2.50 

C02  Dutch  Guiana.  1764  Doit.  Coffee  plant.  Very  tine  2.50 

C03  Ecuador.  1884  Sucre.  Birmingham.  Very  fine  CW  19  2.50 

C04  1896  Sucre.  Lima.  Very  tine  CW  19  2.00 

CO 5 France.  1790  Ecu.  Louis  XVI.  Royal  type.  Strasbourg.  Superb,  proof-like  7.50 

C06  An  12.  Napoleon,  First  Consul.  5 Francs.  Superb  toned  proof.  CW  3 5 12.50 

C07  1811  5 Francs.  Napoleon,  emperor.  Paris.  Unc.  CW  67  5.00 

C08  1814  5 Francs.  Paris.  Superb.  CW  67  5.00 

C09  181  5 5 Francs.  Louis  XVIII.  Bordeaux.  Unc.  CW  76  7.50 

CIO  1819  5 Francs.  Louis  XVIII.  Rouen.  Superb.  CW  77  6.00 

Cl  1 1828  5 Francs.  Charles  X.  Paris.  Superb.  CW  82  5.00 

Cl  2 1831  5 Francs.  Louis'Philippe.  Paris.  Unc.  CW  87  5.00 

Cl  3 1838  5 Francs.  Louis-Philippe.  Paris.  Superb.  CW  89  4.00 

Cl  4 1850  5 Francs.  Republic.  Ceres  head.  Paris.  Unc.  CW  97  5.00 

Cl  5 1854  5 Francs.  Napoleon  III.  Paris.  Brilliant  proof.  CW  106  10.00 

C16  1862  5 Francs.  Napoleon  III.  Paris.  Laureated.  Superb.  CW  111  6.00 

Cl7  1870  5 Francs.  Third  Republic.  Ceres  head.  Paris  Unc.  CW  124  6.00 

Cl  8 1870  5 Francs.  Hercules  etc.  Paris.  Unc.  CW  131  5.00 

C19  1871  5 Francs.  Commune.  Trident  symbol.  Unc.  CW  131a  12.50 

C20  Great  Britain.  1797  Twopence.  Cartwheel.  Unc.  part  red.  CW  10  5.00 

C21  1891  Crown.  Victoria.  Jubilee  type.  Ex.  tine.  CW  56  4 00 

C22  1892  Maundy  Set.  Victoria  Jubilee.  Unc.  CW  63  3.00 

C23  Guatemala.  1847  8 Reales.  Very  fine.  CW  1 2.50 

C24  1859  Peso.  Carrera  head.  Very  tine.  CW  6 7.50 

C25  ( 1840)  Peso.  Prov.  cm.  on  Peru  8 Rls.  1833.  Fine.  CW  64  6.00 

C26  Honduras.  1884  50  Centavos.  Unc.  CW  20  2.50 

C27  Hungary.  1936  2 Pengo.  Liszt  Commemorative.  Mint  CW  8 2.50 

C28  India.  Hyderabad  1903  Rupee.  Char.  Minar.  Unc.  CW  10  2.50 

C29  Indo-China.  1889  Piastre  Superb.  CW  1 4.00 

C30  Isle  of  Man.  1709  Penny  Cast  coin.  Very  fine  3.00 

C31  Italy.  5 Francs  1813.  Cattaro  provisional.  V.F.  CW  2 12.50 

C32  Jamaica.  1894  ]/4)  Zl  pence.  Proofs.  CW  2,  3 3.00 

C33  Madras.  1797  1/48  Rupee.  Gilt  proof.  CW  27  Murdock  coll.  5.00 

C34  Martinique.  1897  50  Centimes.  Essai  in  thick  piefort.  Edge  inscribed  10.00 

C35  Mexico.  1812  Half  real.  Morelos.  Very  fine.  CW  118  3.50 

C36  1812  8 Reales.  Morelos.  Fine.  CW  128  3.50 

C37  1813  8 Reales.  Morelos.  Fine  CW  129  2.50 

C38  1813  8 Reales.  Morelos.  Very  fine.  CW  131  5.00 

C39  181  3 8 Reales.  Tierra  Caliente.  Very  fine.  CW  1 39  7.50 

C40  1812  Half  real.  Supreme  Council.  Ex.  tine.  CW  140  8.00 

C41  1822  8 Reales.  Augustin.  Ex.  tine.  CW  150  3.50 

C4  2 Netherlands.  1793  3 Gulden.  Neerlandia.  Ex.  fine.  CW  2 4.00 

C43  New  Zealand.  1940  Centennial  half  crown.  Mint.  CW  12  2.00 

C44  Persia.  1304  A.H.  5 Krans.  Reza  khan  Pahlevi.  Ex.  F.  CW  75  4.00 

C4  5 Philippine  Islands.  1897  Peso.  Alfonso  XIII.  V.F.  CW  19  2.00 


A Long  Awaited  Publication— 


COINS  OF  THE  WORLD 

Nineteenth  Century  Issues 

ml 

Containing  an  extensive  list  of  the  silver  and  minor 
coins  issued  by  the  countries  of  the  whole  world,  their 
colonics  or  dependencies,  with  illustrations  of  the 
principal  or  most  interesting  types  and  giving  the 
average  valuation  among  collectors  and  dealers. 

Probably  the  most  extensively  illustrated  book  on 
coins  ever  published. 

A geographical  arrangement  of  the  contents  pres- 
ents the  closely  allied  coinages  in  their  proper  sections 
and  avoids  the  artificial  groupings  resulting  from  an 
a! pliahet ical  arrangement. 

Large  octavo,  full  cloth,  over  250  pages 
Price  $3.50  net 

Mav  he  ordered  from  any  coin  dealer 
Published  by 

WAYTE  RAYMOND,  Incorporated 

NEW  YORK 

Kor  further  information  and  complete  descriptive 
circular  write  our  mail  order  department 

P.  ().  Box  431  Mineola,  N.  Y.